Latest news for Ganfeng Lithium Gr (OTC:GNENY) Stock

Founded in 2000, Ganfeng is the world's third largest and China's largest lithium compounds producer and the world's largest lithium metals producer in terms of production capacity. The company offers five major categories of more than 40 lithium compounds and metals products, which is one of the most comprehensive product offerings among the suppliers globally. Starting as a midstream manufacturer of lithium compounds and lithium metals, Ganfeng has successfully expanded into a vertically integrated business model with operations along the critical stages of the industry value chain, including upstream lithium extraction, midstream lithium compounds and metals processing, and downstream lithium battery production and recycling.

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China Cracks Down On Critical Tesla, BMW Supplier: Report

GANFENG LITHIUM UNSP/ADR by Ganfeng Lithium Group Co. Ltd.

Ganfeng Lithium Group Co Ltd

In a candid interview, MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) Executive Chairman Michael Saylor shared insights on his company&#8217;s Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) strategy and his outlook for the <a href="https://www.benzinga.com/money/bitcoin-price-prediction">future of digital assets</a>.
What Happened: In an interview on the Bitcoin Standard <a href="https://www.youtube.com/watch?v=k7XhzXMSAPo">podcast</a>, Saylor said his conviction in Bitcoin as the ultimate store of value remains unwavering. He argued that Bitcoin&#8217;s historical returns of around 46% annually make it difficult for other investment opportunities to compete.
&#8220;Bitcoin&#8217;s up like 46% ARR every year for the past four years. So 50% is my risk-free return. Are you going to give me a proposition that is risk-free better than 50%?&#8221;
Looking ahead, Saylor presented a 21-year forecast model dubbed &#8220;Bitcoin 24.&#8221; His base case projects a 29% annual return for Bitcoin over the next two decades, potentially reaching $13 million per coin by 2045.
While bullish on Bitcoin, Saylor doesn&#8217;t see it as a zero-sum game for other asset classes. He expects Bitcoin to grow from 0.1% of global wealth to about 7% by 2045, coexisting with traditional assets like equities and real estate.
&#8220;MicroStrategy&#8217;s up 964% since August 10th, 2020,&#8221; Saylor noted, comparing it to <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40776328/microstrategys-bitcoin-strategy-has-outperformed-every-s-p-500-company-and-even-nvidia-sin#:~:text=MicroStrategy's%20Bitcoin%20Strategy%20Has%20Outperformed,(NASDAQ%3AMSTR)%20%2D%20Benzinga">other top performers</a> like Nvidia (up 94%) and Bitcoin itself (up 387%).
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="MicroStrategy%20Doubles%20Down%20On%20Bitcoin:%20Can%20The%20Stock%20Sustain%20Its%20Rally?">MicroStrategy Doubles Down On Bitcoin: Can The Stock Sustain Its Rally?</a>
Saylor believes, "Bitcoin is introducing a rationality virus&#8230; I&#8217;m in favor of gradual, graceful, gentle spreading of the rational virus, which I think will get us to a different place.&#8221;
As for corporate adoption, Saylor anticipates more companies will follow MicroStrategy&#8217;s lead in allocating treasury reserves to Bitcoin. He speculates on the impact if tech giants like Apple or Meta were to invest their cash flows into Bitcoin instead of stock buybacks.
While acknowledging regulatory hurdles and the need for traditional banking support, he said "I don&#8217;t think it&#8217;s going to be a doomsday scenario. I think it&#8217;s going to be a utopia when we start saving in something other than government coupons.&#8221;
As Bitcoin approaches its next halving and enters a new four-year cycle, Saylor&#8217;s unwavering commitment and long-term vision continue to shape the narrative around institutional Bitcoin adoption.
What&#8217;s Next: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40502325/microstrategys-bitcoin-strategy-playbook-explained-will-others-follow-this-radical-step">MicroStrategy&#8217;s Bitcoin &#8216;Strategy Playbook&#8217; Explained: Will Others Follow This &#8216;Radical Step&#8217;?</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

MSTR

Michael Saylor: Bitcoin To Hit $13M By 2045, 'WIll Get Us To A Different Place'

Equifax Launched A New Merchant Data Network, An Equifax Cloud-based Data Network To Help Provide Greater Visibility Into The Financial Profiles Of US Small Businesses

Opthea Announced The Completion Of Its Drug Substance Process Performance Qualification (PPQ) Campaign For Sozinibercept

Stifel analyst Jonathan Block maintains Zoetis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>) with a Buy and raises the price target from $200 to $210.

Price Target

Analyst Ratings

Stifel Maintains Buy on Zoetis, Raises Price Target to $210

Proposed acquisition extends Organon's international dermatology capabilities to the U.S.
Organon has agreed to acquire Dermavant for aggregate consideration of up to approximately $1.2 billion, with an upfront payment of $175 million and a $75 million milestone payment upon regulatory approval in AD, as well as payments of up to $950 million for the achievements of certain commercial milestones. In addition, Organon will pay Dermavant shareholders tiered royalties on net sales. Dermavant owns the rights to VTAMA cream globally excluding China and has out licensed Japan rights.

Biotech

Health Care

General

ROIV

Organon Will Acquire Dermavant, A Roivant Company, For Up To Approximately $1.2B

Guggenheim analyst Curry Baker upgrades Sirius XM Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>) from Neutral to Buy and announces $30 price target.

Upgrades

SIRI

Guggenheim Upgrades Sirius XM Holdings to Buy, Announces $30 Price Target

VERO

Venus Concept Announced That It Has Clearance From The Therapeutic Goods Administration (TGA) In Australia To Market The Venus Bliss MAX System

Stifel analyst Jim Duffy maintains On Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>) with a Buy and raises the price target from $45 to $59.

ONON

Stifel Maintains Buy on On Holding, Raises Price Target to $59

ELBM

Electra Battery Announced A Joint Venture, Named Aki Battery Recycling, With Indigenous-owned Three Fires Group To Produce Battery Black Mass Through Responsible Recycling Of Lithium-ion Battery Scrap And Waste Material

Roth MKM analyst Harry Fong upgrades Ambac Financial Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMBC#NYSE">AMBC</a>) from Neutral to Buy and raises the price target from $13 to $15.

AMBC

Roth MKM Upgrades Ambac Financial Group to Buy, Raises Price Target to $15

Venezuela has detained another American citizen, marking the fourth such arrest since early September. The latest detention was announced by Interior Minister Diosdado Cabello on Tuesday.
What Happened: The American was detained in Caracas for allegedly photographing military units, power stations, and other state entities. Cabello disclosed this information during a National Assembly session broadcast on state television, Reuters reported on Wednesday.
Cabello stated, &#8220;Another citizen of North American origin was captured, an American we had been following was captured here in Caracas taking photos of electrical installations, oil installations, military units.&#8221;
On Saturday, Spain requested information from Venezuela concerning the arrest of two Spaniards, three U.S. citizens, and a Czech. These individuals were reportedly detained over an alleged plan to destabilize the country.
See Also: <a href="https://www.benzinga.com/news/24/09/40890590/chuck-schumer-says-if-government-shutdown-happens-it-will-because-of-republican-poison-pills-the-ame?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chuck Schumer Says If Government Shutdown Happens It Will Be Because Of &#8216;Republican Poison Pills&#8217; — &#8216;The American People Are Going To Hold Them Responsible&#8217;</a>
The arrests occurred shortly after Venezuela recalled its ambassador to Spain for consultations and summoned the Spanish ambassador to the foreign ministry, escalating diplomatic tensions following Venezuela&#8217;s disputed presidential election.
Cabello added, &#8220;Rest assured that this gentleman is part of the plan against Venezuela.&#8221;
Why It Matters: The latest arrest comes amid heightened tensions between Venezuela and the United States. The U.S. State Department <a href="https://www.benzinga.com/news/24/09/40876031/us-refutes-claims-of-cia-involvement-in-alleged-maduro-assassination-plot">recently denied allegations</a> of CIA involvement in a plot to assassinate Venezuelan President Nicolás Maduro. This follows the arrest of six foreigners, including a U.S. Navy SEAL, by Venezuelan authorities.
Additionally, the U.S. has<a href="https://www.benzinga.com/news/24/07/40012327/us-expresses-serious-concern-as-both-venezuelan-president-nicolas-maduro-and-opposition-claim-electi"> expressed serious concerns</a> over the Venezuelan presidential election results, with both Maduro and the opposition claiming victory. Secretary of State Anthony Blinken questioned the legitimacy of the results and urged for transparency.
In an effort to resolve the political crisis, the U.S. government has <a href="https://www.benzinga.com/news/24/08/40307039/us-proposes-amnesty-for-venezuelas-nicolas-maduro-for-stepping-down">also proposed amnesty</a> for Maduro in exchange for his resignation. This proposal is part of a broader strategy to encourage Maduro to step down before his term ends.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40870369/trumps-i-hate-taylor-swift-met-with-witty-response-from-harris-campaign-the-american-people-want-to?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s &#8216;I Hate Taylor Swift&#8217; Met With Witty Response From Harris Campaign: &#8216;The American People Want To Out Of The Woods&#8217;</a></li>
</ul>
Photo via Shutterstock.
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

Politics

Global

Fourth American Citizen Detained In Venezuela This Month, Heightening Tensions Between US And Maduro's Regime

B. Riley Securities analyst Nick Giles initiates coverage on Canaan (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAN#NASDAQ">CAN</a>) with a Buy rating and announces Price Target of $2.

Initiation

B. Riley Securities Initiates Coverage On Canaan with Buy Rating, Announces Price Target of $2

BTIG analyst Ryan Zimmerman upgrades GE HealthCare Techs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>) from Neutral to Buy and announces $100 price target.

GEHC

BTIG Upgrades GE HealthCare Techs to Buy, Announces $100 Price Target

The most oversold stocks in the consumer staples sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the<a href="https://www.benzinga.com/topic/rsi"> RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">Farmmi Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FAMI#NASDAQ">FAMI</a>)</h3>
<ul>
<li>On Aug. 23, Farmmi announced a $1 million registered direct offering of 3,433,167 shares. A. The company's stock fell around 61% over the past month and has a <a href="https://www.benzinga.com/quote/FAMI">52-week low of $0.17</a>.</li>
<li>RSI Value: 29.98</li>
<li>FAMI Price Action: Shares of Farmmi fell 5.1% to close at $0.22 on Tuesday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091824&amp;t=be2bearmibe3na1"> latest FAMI news</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="913" height="836" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18072103/image-139.png" alt="" class="wp-image-553634" style="width:663px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18072103/image-139.png 913w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18072103/image-139-300x275.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18072103/image-139-768x703.png 768w" sizes="(max-width: 913px) 100vw, 913px" /></a></figure>
<h3 class="wp-block-heading">elf Beauty Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On Sept. 16, Piper Sandler analyst Korinne Wolfmeyer maintained e.l.f. Beauty with an Overweight and lowered the price target from $260 to $162. The company's stock fell around 30% over the past month. It<a href="https://www.benzinga.com/quote/ELF"> has a 52-week low </a>of $88.47.</li>
<li>RSI Value: 28.33</li>
<li>ELF Price Action: Shares of elf Beauty fell 0.7% to close at $112.43 on Tuesday.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091824&amp;t=be2bearmibe3na1">trend in ELF stoc</a>k. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent091824&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="918" height="832" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18072205/image-140.png" alt="" class="wp-image-553637" style="width:627px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18072205/image-140.png 918w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18072205/image-140-300x272.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18072205/image-140-768x696.png 768w" sizes="(max-width: 918px) 100vw, 918px" /></a></figure>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/09/40898216/cramer-hewlett-packard-is-a-very-inexpensive-stock-likes-this-big-tech-stock">Cramer: Hewlett Packard Is A &#8216;Very Inexpensive&#8217; Stock, Likes This Big Tech Stock</a></li>
</ul>

Long Ideas

Pre-Market Outlook

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FAMI

Top 2 Risk Off Stocks Which Are Set To Fly This Quarter

TGTX

TG Therapeutics Presented Updated Data From The ENHANCE Phase 3b Trial Evaluating BRIUMVI (ublituximab-xiiy) In Patients With Relapsing Forms Of Multiple Sclerosis (RMS)

B of A Securities analyst Ken Hoexter maintains FedEx (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) with a Buy and lowers the price target from $347 to $345.

B of A Securities Maintains Buy on FedEx, Lowers Price Target to $345

HC Wainwright &amp; Co. analyst Robert Burns reiterates Macrogenics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNX#NASDAQ">MGNX</a>) with a Neutral and maintains $4 price target.

Reiteration

MGNX

HC Wainwright & Co. Reiterates Neutral on Macrogenics, Maintains $4 Price Target

Baird analyst David Manthey maintains Ferguson Enterprises (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FERG#NYSE">FERG</a>) with a Outperform and raises the price target from $222 to $225.

FERG

Baird Maintains Outperform on Ferguson Enterprises, Raises Price Target to $225

HC Wainwright &amp; Co. analyst Robert Burns reiterates Exelixis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXEL#NASDAQ">EXEL</a>) with a Buy and maintains $29 price target.

EXEL

HC Wainwright & Co. Reiterates Buy on Exelixis, Maintains $29 Price Target

MIRA

MIRA Pharmaceuticals Announced Significant Progress In The Clinical Development Planning For Its Novel Oral Ketamine Analog

Lithium Americas: After Taking Several Hits, It Is Now A Value Play

Lithium Americas (Argentina): A Speculative Bet On A Pure-Play Lithium Stock

Lithium Argentina: A Progress Report And Insider Buying

Lithium Miners News For The Month Of June 2024

Ganfeng Lithium Group Co., Ltd. goes ex dividend tomorrow

Lithium Miners News For The Month Of July 2024

Undercovered Dozen: Hawaiian Electrics, Serve Robotics, Yandex, Southwest Airlines +

China's Ganfeng buys 14.9% stake in Lithium Argentina project in $70M deal

Lithium Miners News For The Month Of August 2024

Did China Just Blink In The Great Lithium War

AGEN

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COMM

CXOXF

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LITP

MALRF

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MFIC

MFICL

NILIF

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Ganfeng Lithium Gr

Ganfeng Lithium Co

<ul>
	<li>China Securities Regulatory Commission probed&nbsp;Ganfeng Lithium Co Ltd&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/GNENY#OTC">GNENY</a>) for alleged insider trading for buying and selling a mainland-listed stock in the secondary market,&nbsp;<a class="editor-rtfLink" href="https://www.ft.com/content/c44ca0c3-18b0-4deb-9915-47db02a13ff1" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">the Financial Times reports</a>.</li>
	<li>Ganfeng Lithium received a case filing from the regulator on July 1. Ganfeng Lithium did not expect the investigation to impact its &quot;normal production and business activities,&quot; and it vowed to &quot;actively co-operate&quot; with investigators, FT noted.&nbsp;</li>
	<li>The probe comes as Ganfeng Lithium and other leading Chinese resource mining and processing groups solemnize state-backed efforts to consolidate China&#39;s dominance over the supply chain for electric vehicles and batteries.</li>
	<li>Ganfeng Lithium is a leading Chinese biggest lithium producer and a critical&nbsp;Tesla, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and&nbsp;Bayerische Motoren Werke AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMWYY#OTC">BMWYY</a>) supplier.</li>
	<li>Ganfeng Lithium battled volatility amid fluctuating lithium carbonate prices and China&#39;s pandemic lockdowns disrupting supply chains.&nbsp;</li>
	<li>The nationalization of the lithium industry also posed concerns over Ganfeng Lithium&#39;s assets in Mexico.&nbsp;</li>
	<li>Analysts expect the Sonora project in Mexico to account for about 5% - 8% of Ganfeng&#39;s total lithium output by 2025, remaining upbeat about the prospects of the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/27933677/heres-how-credit-suisse-views-may-ev-performance" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Chinese electric vehicle</a>&nbsp;industry.&nbsp;</li>
	<li>Analysts and investors saw immense growth potential as rival carmakers overhauled their business models to focus on electric cars, whose batteries rely on lithium.&nbsp;</li>
	<li>Recently,&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/06/27863505/another-player-goes-aggressive-on-ev-charging-market-thanks-to-tesla" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">leading battery maker</a>&nbsp;Contemporary Amperex Technology, miner Tianqi Lithium and Huayou Cobalt, another significant Chinese raw material supplier, moved to tap investors for over $10 billion in capital to expand operations.</li>
	<li>Price Action:&nbsp;TSLA shares traded lower by 1.73% at $669.98 in the premarket on the last check Tuesday.</li>
</ul>

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Latest news for Ganfeng Lithium Gr (OTC:GNENY) Stock

Tuesday, July 05, 2022